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Simulating the Principal-Agent Relationship between Enterprise Owners and Professional Managers Using Evolutionary Game Theory and System Dynamics
Complexity ( IF 2.3 ) Pub Date : 2021-07-17 , DOI: 10.1155/2021/3881254
Liang Yuan 1 , Xiaorui Tao 1 , Thomas Stephen Ramsey 1 , Dagmawi Mulugeta Degefu 1, 2
Affiliation  

The separation of ownership and management is a common operation mode in modern enterprises, which establishes the principal-agent relationship between modern enterprise owners and professional managers. Due to the information asymmetry and interest conflicts between the principal and agent, the principal-agent problem will occur and affect the efficiency of enterprise operations. Therefore, it is necessary to propose measures to improve the principal-agent relationship. This paper analyzed the principal-agent problem between enterprise owners and professional managers based on system dynamics, evolutionary game, and principal-agent theory and built a principal-agent evolutionary game model to analyze the rule of strategic choices and predict the equilibrium outcomes of different scenarios. In addition, the influence of different factors on strategic choices was simulated by the system dynamics model. The results depicted that the basic benefits and costs of cooperation are the key factors of the strategic choices, and the gap between the expected payoffs of different strategies also affects the probability of choosing those cooperative strategies. Proper supervision, standardization of the managerial labor market, and establishment of long-term incentives are crucial to cooperation between enterprise owners and professional managers.

中文翻译:

使用演化博弈论和系统动力学模拟企业主和职业经理人之间的委托代理关系

所有权和经营权分离是现代企业普遍存在的经营模式,它建立了现代企业所有者与职业经理人之间的委托代理关系。由于委托人和代理人之间的信息不对称和利益冲突,就会出现委托代理问题,影响企业经营效率。因此,有必要提出改善委托代理关系的措施。本文基于系统动力学、演化博弈和委托代理理论,分析了企业主与职业经理人之间的委托代理问题,构建了委托代理演化博弈模型,分析了战略选择的规律,预测了不同企业的均衡结果。场景。此外,系统动力学模型模拟了不同因素对战略选择的影响。结果表明,合作的基本收益和成本是影响战略选择的关键因素,不同战略预期收益的差距也影响选择合作战略的概率。适当的监管、管理劳动力市场的标准化以及建立长期激励机制对于企业主和职业经理人之间的合作至关重要。
更新日期:2021-07-18
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